Qatar Petroleum listing of chemical subsidiary begins today

8:02 AM MST | December 31, 2013 | Francinia Protti-Alvarez

Mesaieed Petrochemical Holding Company's, (MPHC; Doha) initial public offering of 323.19 million shares at the Qatari bourse began today, the company has announced. MPHC is a unit of Qatar Petroleum (Doha). The shares are being offered at 10 Qatari rials/unit ($2.74/unit), and the company is seeking to raise QR3.23 billion. MPHC, an umbrella entity holding stakes in Qatar Chemical, Qatar Chemical II, and Qatar Vinyl Company, is listing close to 26% stake of the business in the previously announced sale. The IPO puts MPHC enterprise value at QR12.56 billion...